Free Trial

Bullish Price Sequence Extends

GBPUSD TECHS
  • RES 4: 1.2276 High Aug 10
  • RES 3: 1.2200 200-dma
  • RES 2: 1.2143 High Aug 17
  • RES 1: 1.2113 Intraday high
  • PRICE: 1.2089 @ 06:24 GMT Nov 24
  • SUP 1: 1.1873 Low Nov 23
  • SUP 2: 1.1698 20-day EMA
  • SUP 3: 1.1577 50-day EMA
  • SUP 4: 1.1500 Round number support

GBPUSD traded sharply higher into the Wednesday close, tripping the bull trigger and this has confirmed a resumption of the uptrend. The move higher also marks an extension of the bullish price sequence of higher highs and higher lows and note that moving average studies are in a bull-mode position, highlighting current sentiment. The focus is on 1.2143 next, the Aug 17 high. On the downside, key short-term support is seen at 1.1698, the 20-day EMA.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.